SABC Digital News

Portfolio Manager at Vestact, Michael Treherne on rand weakness.


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The rand continues to trade at its weakest level in weeks due to political and economic uncertainty. Analysts say a statement by ratings agency Moody's that South Africa will not attract investors while political uncertainty continues outweighed news of a surplus in the balance of payments account. The rand is now trading at around 13-rand-29 to the US dollar. Reserve Bank Governor, Lesetja Kganyago, yesterday warned of dire consequences after South Africa slipped into recession.
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SABC Digital NewsBy SABC News and Current Affairs